EssilorLuxottica: Oddo BHF trims target price
(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on EssilorLuxottica shares, shaving a euro off its target price from E190 to E189.
The analyst believes that the Q3 should not present any unpleasant surprises, with expected growth of +4.9% y-o-y, at constant exchange rates, after +8% in Q2.
Oddo BHF has a slightly more cautious forecast for Q4, with growth expected at 6%, compared with +7.1% previously.
All said, its 2023 forecast remains unchanged: Oddo BHF has sightly adjusted its EBIT forecast for 2024 (-3%) to take account of macro factors, and specifies that FY 2025 remains unchanged.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The analyst believes that the Q3 should not present any unpleasant surprises, with expected growth of +4.9% y-o-y, at constant exchange rates, after +8% in Q2.
Oddo BHF has a slightly more cautious forecast for Q4, with growth expected at 6%, compared with +7.1% previously.
All said, its 2023 forecast remains unchanged: Oddo BHF has sightly adjusted its EBIT forecast for 2024 (-3%) to take account of macro factors, and specifies that FY 2025 remains unchanged.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.